Liquidity solutions are a topic du jour in fund finance. With bank balance sheets somewhat restricted by macroeconomic concerns and risk-weighted asset regulations, fund finance borrowers and lenders have sought creative ways...more
The doctrine of sovereign immunity is a foundational element of the interplay between a governmental investor’s contractual obligation to satisfy capital calls and a fund’s or lender’s ability to enforce that obligation...more
As we finish the last season of LIBOR replacement, the fund finance market is busy amending our loan documents to include SOFR as the interest rate benchmark for U.S. dollar loans. While the cessation date for USD LIBOR is...more
Today’s article marks the halfway point in our alphabetical 50-state survey of sovereign immunity, as this installment covers Montana, Nebraska, Nevada, New Hampshire and New Jersey....more
As the traditional subscription facility market has matured, new liquidity and funding innovations have arisen. Enter the rated note feeder. This structural tool in the back pocket of GPs may ease the accessibility of private...more
As the traditional subscription facility market has matured, new liquidity and funding innovations have arisen. Enter the rated note feeder. This structural tool in the back pocket of GPs may ease the accessibility of private...more
As interest rates rise and a potential recession looms, we’ve seen a flight to quality as new entrants seek to participate in our fund finance market. While most deals on our books have just one lender and one fund as...more
ESG (Environmental, Social and Governance) is everywhere. From landmark climate regulations approved in Europe in June to new ESG disclosure rules in China, from sustainable investments growing by double-digit multiples to...more
8/10/2021
/ Corporate Governance ,
Corporate Social Responsibility ,
Credit Facilities ,
Environmental Social & Governance (ESG) ,
Green Loans ,
Investment ,
Key Performance Indicators (KPIs) ,
Loans ,
Publicly-Traded Companies ,
Sustainability ,
Use of Proceeds
As we approach the end of LIBOR, the next phase of the transition is already upon us: incorporating the new fallback rates and market conventions into our transactions. This article highlights SONIA, the Bank of England’s...more